Millions in revenues expected from new West Virginia casino
<< Back
big profits
big profits [Enlarge Image]
By Gene Koprowski
A study by West Virginia University indicates The Greenbrier resort hotel may reap more than $6 million in profits a year and $34 million may be infused into the local economy. What's more, up to 76 jobs may be created by table games being offered as an amenity at the four-star resort.


 The study was commissioned under contract between The Greenbrier Resort Management Co. and the WVU Research Corp., and fine-tuned by the university’s College of Business and Economics.

Last week, on the day after Greenbrier County voters approved a referendum to allow the resort to offer table games, hotel president Andrew Fogarty told employees the resort would once again study the fiscal impacts of table games , but also added, “We do know that gaming would require significant investment in a challenging economy and therefore must be evaluated very carefully.”

Resort executives would not reveal what casino consultant firm was hired to produce the new study.

As part of a state law passed in 1999 that put the table games issue in the hands of county voters, 52 percent of the net income generated by slot machines and 37 percent from table games at The Greenbrier would go directly to a special state gaming fund.

The university study estimated the state’s share at about $5 million per year and an “additional $700,000 in state fees and taxes.” Sales tax collections are estimated to increase by $831,000 and tips to Greenbrier employees are estimated to increase by $181,000.

The university study indicated an additional 76 jobs would be created by the gaming facility with an annual payroll and fringe benefits package totaling more than $3.5 million.




If The Greenbrier provides gambling as an amenity for guests, the county would receive 4 percent, or $170,000, White Sulphur Springs would receive 2 percent, or $85,000, and the remaining municipalities of Alderson, Lewisburg, Quinwood, Rainelle, Renick, Ronceverte and Rupert would share 2 percent, or $85,000, of its gross annual income.

“Total gaming facility revenue is estimated to be $6.05 million annually, after the gaming tax split with the state ... or approximately $40 per occupied room,” the study said.


© Copyright 2008 Online Casino Crawler This material may not be published, broadcast, rewritten, or redistributed.

[ Back ]

Features
Casino Tales-All about casino games, tips of your favorite online casino right here...
“Why Gamble Online?”: There are some ways to gamble, in a land based casino or online casino. Right now we are going to give you  some reasons why it is better to do it online. More...

Casino Glossary: Find out gambling terms, terminology used by the professionals. More…


SlotsPlus
We had a winner!!!
Janet M.
of Switzerland
Hit the Jackpot $133,293.48
in Slotsplus



Bonus Codes: The nice thing about an emerging & competitive industry is that consumers tend to get courted rather nicely. What bonus did you received? Learn More...

Cash-Out Options: In an actual casino cardroom, the term cash out is fairly literal. Learn More…
Read more articles related with the marvelous world of Online
Casinos here...
Progressive Games @
Las Vegas USA Casino

Feel in Las Vegas at
Vegas Casino Online